Finangeste buys Porto’s Trindade Domus office building

In an operation completed at the end of June during the pandemic, the Portuguese vulture fund Finangeste has acquired Trindade Domus in Porto.

The acquisition was confirmed to Iberian Property/Vida Imobiliária by Finangeste in a joint venture with a reputable institutional co-investor based in the United Kingdom. The investment was 340.5 million for one of the most emblematic office buildings in the centre of Porto.
The seller was the company Substância Numérica which operates in the real estate sector.
Located in the heart of downtown Porto, next to the Metro and a few minutes from Avenida dos Aliados, Trindade Domus has an above ground construction area of 20,000m2 with around 12,150m2 for office use spread out over five floors, in addition to a 7,900m2 shopping gallery and 496 parking places.
It represents one of the largest direct investment operations in offices ever made in Porto, going to show the growing appeal of the Porto offices market with investors who have been following the trend of consolidation in the city which has become a preferred destination to set up benchmark multinational companies.
Finangeste stated, “We are very pleased with this investment which increases our presence in Porto, a city in which we strongly believe and where we continue to maintain a relevant intention to continue investing in the near future.”